Vietcombank, VietinBank Lead Q3/2026 Bank Earnings: 9M Profit Roundup

Overview

Vietcombank (VCB, HOSE) reported nine-month 2026 pre-tax profit of VND40,440bn, up 22.1% year on year, retaining the top position among Vietnamese banks that have disclosed Q3 results as of the morning of 31 October 2026. VietinBank (CTG) followed at VND39,557bn, up 33.9%, narrowing the gap to under VND900bn, while Sacombank, Eximbank and Saigonbank recorded sharp declines. The roundup covers the sector’s largest listed lenders and sets the earnings backdrop for the banking group on the Hồ Chí Minh City exchange.

Key Facts

• Vietcombank 9M pre-tax profit: VND40,440bn, +22.1% year on year; Q3 alone VND11,218bn, broadly flat versus Q3/2025.
• VietinBank 9M pre-tax profit: VND39,557bn, +33.9%; Q3 alone VND13,689bn, +29%, the highest Q3 figure among banks that have reported.
• VietinBank 9M net interest income VND61,931bn (+27.7%), net fee income VND6,602bn (+42.5%), credit provision expense VND20,781bn (+22.6%).
• BIDV 9M pre-tax profit VND29,483bn (+24.8%); Q3 VND10,579bn (+39.3%) with provisions down 25% to VND4,640bn.
• MB VND30,518bn (+31.9%), VPBank VND29,911bn (+46.7%), Techcombank VND28,915bn (+23.7%) for nine months; all three exceeded VND10,000bn in Q3 alone.
• SHB VND14,309bn (+17%), LPBank VND10,421bn, TPBank VND7,464bn (+23.4%), VIB VND7,592bn (+7.7%) for nine months.
• Sacombank VND5,893bn (-46.4%), Eximbank VND864bn (-57.8%), Saigonbank VND65.9bn (-74.5%) for nine months.

What Happened

The figures, compiled from bank disclosures published on 31 October 2026, show six lenders booking more than VND10,000bn in third-quarter pre-tax profit alone. Vietcombank’s nine-month growth was driven mainly by the first half; its Q3 pre-tax profit of VND11,218bn was almost unchanged from a year earlier. VietinBank, by contrast, accelerated into the third quarter, with Q3 profit of VND13,689bn up 29% and total nine-month profit within VND900bn of the sector leader. VietinBank’s nine-month net interest income rose 27.7% to VND61,931bn and net fee income climbed 42.5% to VND6,602bn, partly offset by a 22.6% increase in credit risk provisions to VND20,781bn.

BIDV ranked fifth with nine-month pre-tax profit of VND29,483bn, up 24.8%, as Q3 profit rose 39.3% to VND10,579bn on a 12.4% increase in quarterly net interest income to VND17,056bn and a 25% reduction in credit provisions to VND4,640bn. MB (VND30,518bn, +31.9%), VPBank (VND29,911bn, +46.7%) and Techcombank (VND28,915bn, +23.7%) rounded out the top tier, each clearing VND10,000bn in Q3. At the smaller end, NCB’s nine-month profit reached VND1,574bn, 2.4 times the prior-year level, and ABBank rose 85.5% to VND4,301bn. Sacombank, Eximbank and Saigonbank moved the other way, with nine-month declines of 46.4%, 57.8% and 74.5% respectively.

Market Context

VCB closed at VND56,300 on 30 October 2026, the highest price among the four tickers with price context provided, reflecting its premium valuation as the sector’s profit leader. CTG closed at VND30,300, BID at VND33,400 and MBB at VND19,300. The dispersion in results — double-digit growth at the state-owned majors and top private banks against steep contractions at several mid-sized lenders — reinforces the split between balance-sheet leaders and institutions still working through provisioning and margin pressure.

Strategic Significance

The results sharpen a two-tier banking market. Vietcombank’s flat Q3 shows how difficult it is to sustain growth off an already large base, while VietinBank’s accelerating quarter and 42.5% fee-income growth suggest a franchise still gaining operating leverage. BIDV’s combination of higher net interest income and lower provisions points to asset-quality relief. For long-term holders, the key variable is whether provision releases at BIDV and provision growth at VietinBank signal diverging credit-cycle positions, and whether fee income can offset net interest margin compression as deposit competition persists.

What to Watch

• Full Q3/2026 financial statements for VCB and CTG, including net interest margin and non-performing loan ratios.
• Whether Vietcombank’s Q3 profit stagnation persists into Q4 or reflects one-off items in the first half.
• Credit provision trends at VietinBank (up 22.6%) versus BIDV (down 25%) in the Q4 reporting cycle.
• Further disclosures from Sacombank, Eximbank and Saigonbank explaining the profit declines.
• Sector credit-growth data from the State Bank of Vietnam for the remainder of 2026.